Turkey: Current account balance sees $3.76B gap in May

By Tuba Sahin

ANKARA (AA) – Turkey's current account balance saw $3.76 billion deficit in May, the country's Central Bank revealed on Monday.

The figure deteriorated from a $1.07 billion surplus in the same month last year, according to the bank's report on balance of payments.

Turkey's 12-month rolling deficit reached $8.24 billion in May.

The figure came at better than market projections of $4.3 for the month.

The estimations of a group of 14 economists polled by Anadolu Agency last week ranged between $3.2 billion and $5.6 billion for May.

The survey also forecast the end-2020 current account balance to hit $17.5 billion deficit.